PayPal Daily Technical Analysis | 28 September 2017
2017-09-28 11:12 am | Resource: Technical Analysis Section | No Views : 336
The stock trades within a classical bullish triangle pattern on the hourly frame even if it does not breach the upper rib or break the lower leg.
From MACD, with positive, positive cross-setting below zero levels, it supports buyers in the stock.
It is expected that if the price of 63.73 is breached, it might target 65.24 levels on the other side if the 62.37 level is breached, targeting 61.12.
Support: 62.37 - 61.12 - 60.69
Resistance: 63.73-65.24 - 65.98
Wall Street opened higher on Thursday after the US Federal Reserve cut interest rates by 25 basis points to 1.75% -2% due to lower inflation and global economic outlook. The move was first criticized by President Donald Trump, but he later described it as "good." Meanwhile, oil prices rose as reports indicated that Saudi Arabia might not be able to meet demand in the wake of Saudi Aramco attacks and…
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